Home prices edged higher in February

Despite a number of reports unsure about future trends that may arise in the housing market and economy, home prices increased for the first time in nearly a year and a half last month.

Despite a number of reports unsure about future trends that may arise in the housing market and economy, home prices increased for the first time in nearly a year and a half last month.

A recent report from RE/MAX found that national home prices rose 1.1 percent on an annual basis in February while rising 1.4 percent from the beginning of 2012. The average home price settled at $171,881 - a trend that has a number of experts anticipating healthy performance in the coming months.

"All the data is pointing to a very active spring and summer selling season this year, which is great news for a recovering housing market," said RE/MAX chief executive Margaret Kelly. "As sales numbers have trended higher for several months, we have been anticipating a turnaround in home prices, and it looks like it's finally starting."

Locally, of the 53 metro areas examined by the industry group, nearly half experience home prices appreciation, which was led by the housing markets in Miami and Orlando.

Meanwhile, real estate data shows that home sales last month surged 8.7 percent from a year earlier - marking the eighth consecutive month of such gains.



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